Quote from: Erdogan on May 06, 2015, 05:41:55 PM

Quote from: minerpumpkin on May 06, 2015, 02:33:02 PM

Quote from: Erdogan on May 06, 2015, 11:15:34 AM

Quote from: minerpumpkin on May 05, 2015, 03:24:40 PM

Quote from: Chef Ramsay on May 05, 2015, 03:34:44 AM

I congratulate on your sales but a full coin hasn't been bought at this rate yet. If and when that happens on multiple accounts, I believe that will be time for walking on sunshine. It's bullish nonetheless considering premiums for purchasing are like tips at this point. It's so amazing and incomprehensible that people can't get a coinbase wallet w/ 2FA and buy their shit at market price. Either way, rock on!

It just makes it more obvious that big money is waiting for the right vehicle to get into Bitcoin. It really seems as if the ETF(s) seem to be the right thing for them. Many people around here don't seem to get that, but people really are preferring those investment vehicles over our "beloved" exchanges.

Conclusion must be that the group of people that is the target for the fund, regards the fund as more liquid than having coins by themselves. Just use your trading station, done in a second, the back office guys handles the practical side.

For me, I find the current situation quite ok, the time to complete a trade is an hour or two if I want to use the banks (except nights and weekends), and a day or three if I want to use cash.

Well that doesn't sound very convenient, actually. I do get why people want to use an ETF. Using trading stations, etc. just makes more sense if you're in the game already. People don't want to jump through the hoops of "amateur" exchanges in the Bitcoin realm. But I don't see GBTC being liquid at all, and in its current form the price if very impressive and exciting, but it doesn't really provide solid data for a real price discovery aside from regular Bitcoin exchanges!

A little more volume, and we will see. There are nonrandom differences between the various exchanges, and my thought is, the easier it is to get in/out/trade, the higher the price will be on that exchange.

The difficulty of getting money/BTC in or out of an exchange can influence the price both ways. With gox we saw the price of BTC trade 10% above the rest of the exchanges because there were FIAT withdrawal delays, so people bought BTC at a premium. When Gox was going down for good, the price went down to 1/5 of the other exchanges' price, though.